Many banks don't get a licence for three years

"Bombay, Bombay is." After the terrorist attacks that have bloodied the city, Naina Lal Kidwai, Managing Director of HSBC in India, insists on the reduced impact of this "tragedy" on activity in the country. "It is like to imagine that the London bombings have created a problem in Paris," said the leader, who went to London to sign a partnership with the British Museum.

The Bank continued its activities in Bombay during the crisis. "In the morning, our teams have collected cheques, under escort, to bring them to the Central Agency." "We had a minimum service in our agencies on the first day but the next day, the service was complete," said Naina Lal Kidwai, which itself went behind the curtains closed main agency HSBC in Mumbai, located at a stone's throw from assault taken hotels. "We communicate with the staff via a SMS system that we had put in place during the recent floods in Bombay," she said.

That was the first graduate Indian woman in Harvard also wants to put into perspective the decline expected growth in India. "Yes, we slowed." We should spend 9.5 growth last year to approximately 7.5 to 8 this year. Our analyst provides 7 next year, she explains, but 9.5, was above the trend. The India much increased during the last three or four years. Ten years ago, the annual growth was 3. "And, with 80 of its gross domestic product related to domestic activities, the Indian economy should do better that resist, according to Naina Lal Kidwai.

Evidence of the interest in this gigantic reservoir of savings, HSBC has come full circle, end of September, the redemption for 300 million dollars of a stock broker. One of the three acquisitions carried out in 2008 by the first European Bank, the other two being Indonesia and Taiwan. "Redemption of Investsmart brings us 300 points of sale, own or free, through which we can sell insurance and asset management," said Naina Lal Kidwai, reminiscent of the constraints of the Indian banking market: "We have not obtained licence to open an Agency last year." Many banks don't get a licence for three years. The world trade organization asked the India to allocate 12 banking licences annually to all foreign banks. You can imagine the competition it represents since more in addition to candidates wish to establish themselves in India. "Second foreign bank in the country behind Standard Chartered, HSBC has 47 agencies in 26 cities. Many need only three, or even two.

A "partner of choice."

The banking group, which employs 35,000 people in the country, launched this year an own insurance business. With 3.5 billion in funds under management from domestic investors and 8 billion on the part of investors offshore, HSBC prides itself to be the number one in the management of India assets. The Indian subsidiary, place the ninth largest in terms of contribution to the result before taxes for the group, centralizes a lot of computer developments.

"We are the partner of choice for any Indian business abroad." We also help our multinational clients to open offices in India. It is our natural customer finds Naina Lal Kidwai. Thanks to our solid technology platform, we we develop now with success with the medium-sized enterprises. It is a new activity with strong growth potential.